Egypt was recently chosen to chair the North African Central Banks Committee, according to Egyptian press reports.

The decision was made at a meeting of the African Central Banks association which recently convened.

Ismail Hassan, governor of the Central Bank of Egypt, stated that an eight-stage program would be implemented to help promote financial cooperation and ease economic shifts between Africa states. These topics will be reviewed at a meeting planned for an unspecified date within the next six months.

The joint program was initiated by an African summit some time ago at which the establishment of an African central bank to further cooperation was suggested. –(MENA Report)